Known in the art is an internal combustion engine which comprises an exhaust purification catalyst arranged in an engine exhaust passage and a hydrocarbon feed valve arranged in the engine exhaust passage upstream of the exhaust purification catalyst, a precious metal catalyst is carried on an exhaust gas flow surface of the exhaust purification catalyst, a basic layer is formed around the precious metal catalyst, and a first NOx removal method which reduces NOx contained in the exhaust gas by a reducing intermediate which is held on the basic layer and generated by injecting hydrocarbons from the hydrocarbon feed valve within a predetermined range of period and a second NOx removal method in which an air-fuel ratio of the exhaust gas flowing into the exhaust purification catalyst is made rich by a period which is longer than the above-mentioned predetermined range to make NOx which is stored in the exhaust purification catalyst when the air-fuel ratio of the exhaust gas is lean to be released from the exhaust purification catalyst and be reduced are used (for example, see PTL 1).